The Vermont Statutes Online

Subchapter
001
:
REGIONAL TRANSIT AUTHORITIES

(Cite as: 24 V.S.A. § 5105)

§
5105. Grand list; debt limit

The grand list
of the authority shall be deemed to be the total of the grand lists of member
municipalities, and the debt limit of the authority shall not be diminished by
any obligation incurred by a member municipality alone. Obligations incurred
under chapter 53 of this title shall be the joint and several obligations of
the authority and of each member municipality but shall not affect any
limitation on indebtedness of a member municipality. The cost of debt service shall
be included in the annual budget of the authority as provided in section 4108
of this title, and shall be allocated among the member municipalities as
provided in that section. Where voter approval is required pursuant to chapter
53 of this title, the board of commissioners shall determine the number and
location of polling places, and when a majority of all the voters present and
voting on the question from all of the member municipalities at the meeting
vote to authorize the issuance of bonds, the board of commissioners shall be
authorized to issue the bonds as provided in chapter 53 of this title. The
counting of ballots shall be conducted by the board of commissioners together
with the town or city clerk from each member municipality or his or her designee.
(Added 1975, No. 153 (Adj. Sess.), § 1, eff. March 10, 1976.)